Banking, Finance & Services
The extravagant spectacle is expected to dwarf the record $95 million spent by Democrats this year. In fact, the Republicans will spend more than the $130 million raised by Al Gore for his entire 2000 campaign.
Enron Corp.'s former investor-relations chief grew tense Tuesday when challenged about his testimony that suggested former CEO Jeffrey Skilling participated in schemes to hike earnings estimates or minimize how much revenue stemmed from asset sales.
Spain will inject emergency capital into the country's biggest ailing bank, Bankia, as it puts into place reforms to allow loss-making banks to receive eurozone bailout money.
Bank of America leads the list of companies that have paid over $1 billion in penalties and fines to the U.S. government in the last six years. Violation Tracker, a new corporate misconduct database maintained by Good Jobs First, estimates that the North Carolina bank has paid $56 billion.
Anger is mounting over a new bonus scheme at Tesco that will reward chief executive Sir Terry Leahy with a Â£11.5m windfall if the supermarket group's US venture Fresh & Easy succeeds.
Eduardo Castro-Wright, the former CEO of Walmart Stores USA, has been accused of orchestrating a $24 million bribery scheme to expand the company's presence in Mexico between 2002 and 2005. The alleged scheme involved a series of payoffs to Mexican city governments, according to an investigation by the New York Times
Multinational banks are preparing to pay out billions of dollars in fines to settle charges of foreign exchange manipulation. Some 19 investigations in ten different legal jurisdictions are now winding their way to completion and analysts says the final tally may hit $41 billion.
Of two former Enron Corp. broadband executives to be retried on fraud and conspiracy charges in the wake of a hung jury last year, one faces prison and the other is free.
WASHINGTON -- So you have a secret craving for Little Debbie peanut butter bars and a penchant for Kendall-Jackson merlot? While that customer loyalty card at the supermarket might perceivably save you a few pennies at the checkout counter, your buying habits could end up in the hands of government agents.
The leader of one of India's largest technology outsourcing companies, Satyam Computer Services, on Wednesday admitted cooking its books and committing other grave financial wrongdoing to inflate profits over several years. The revelation shook India's stock market and sent shockwaves across the country's booming software industry.